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Importance of Quality in Projects
Importance of Quality in Projects
Importance of Quality in Projects
uk
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Stock Control
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Stock Control
Costs:
Storage costs warehousing, etc. Depreciation costs wear and tear, perishability, shelf-life, etc. Opportunity cost zero revenue earned on stocks sitting around! Administration costs monitoring stock levels, ordering and processing, etc.
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Stock Control
Benefits:
Availability of stocks to meet customer needs Buffer stocks help to cope with unplanned changes in demand Smoothes out the volatility of lead times
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Stock Control
Stock Level
Maximum Stock Level
Re-order triggered
Re-order level
Lead Time When the stock level reaches the re-order level, it triggers a Maximum stock levels achieved after stock delivery. The Traditional Stock Control Model new order. The difference between the time of re-order and Stock levels decline during production. delivery is the lead time.
Time
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Alternatives
Computerisation The functionality and power of computers allow companies to be able to keep accurate stock control processes in place.
Use of bar codes has facilitated this. Allows constant flow of information to distribution centres.
Just-In-Time Minimise the amount of stock held in pure systems, the stock arrives as it is needed.
JIT relies on excellent relationships with suppliers JIT requires excellent communication and infrastructure links between suppliers and businesses
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Quality
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Quality Control
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Quality Control
The responsibility of every member of the workforce for the quality of products and services provided by the business. Emphasis on reducing defects, etc. before it gets to the final stage of production and certainly to the consumer.
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http://www.bized.co.uk
Quality Assurance
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Quality Assurance
The process whereby quality is at the forefront of every stage of the development, design, marketing, manufacturing and selling process. Quality is influenced by the internal philosophy of the business and the external influences -
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